The credit rating agency Moody’s downgraded the City and Borough of Juneau from an Aa2 to Aa3 rating on Thursday.
“It’s like going from an A to an A-minus,” City Manager Kim Kiefer said.
However, the downgrade affects the city and borough little, Kiefer said.
Juneau gets its bonds through the Alaska Municipal Bond Bank Authority, Kiefer said. This public corporation helps Alaska municipalities finance capital improvement projects “such as schools, water and sewer systems, public buildings, harbors and docks,” according to the Authority’s web page.